“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”
– Warren Buffet [1930 – present]
Our individual ability to create new relationships, foster trust, and earn respect all contribute to building a reputation. By its very definition, reputation is an intangible and complex concept because it is comprised of impressions, emotions and perceptions. All organizations achieve results from their reputation. The internet has empowered the consumer and revolutionized how information that was once printed in newspapers or shared on the nightly evening news can be created by anyone and accessed from a device that fits comfortably in the palm of our hand. Individual and firm success are now directly correlated with how and what is communicated online. Every day there are 5.5 billion searches performed for a plethora of reasons, including finding a restaurant in a new city, buying mom a gift, or researching the next firm to engage. The world is literally at our fingertips, but most people only bother to go through detailed information on first page of Google. In fact, 94% of people only look at the first page of Google search results. Consumers value interacting with businesses and service providers with positive online reputation. When promoted effectively online, digital marketing helps businesses accelerate their growth. Conversely, negative information circulating on the internet can harm businesses and ruin personal lives. Firms lose contracts, employees lose jobs, and most importantly – their reputation.A digital presence and online communication strategy are not just part of a company’s reputation, they form a company’s foundation and the most critical component to its survival and growth.